Bordeaux Wealth Advisors LLC Buys Shares of 14,093 Altria Group, Inc. (NYSE:MO)

Bordeaux Wealth Advisors LLC acquired a new stake in shares of Altria Group, Inc. (NYSE:MO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,093 shares of the company’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its position in Altria Group by 11.5% in the 2nd quarter. National Bank of Canada FI now owns 587,698 shares of the company’s stock worth $27,047,000 after purchasing an additional 60,826 shares during the period. Nicholas Hoffman & Company LLC. boosted its stake in shares of Altria Group by 18.4% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 34,103 shares of the company’s stock worth $1,553,000 after buying an additional 5,294 shares during the last quarter. Impact Partnership Wealth LLC grew its holdings in shares of Altria Group by 10.0% in the second quarter. Impact Partnership Wealth LLC now owns 17,852 shares of the company’s stock worth $813,000 after acquiring an additional 1,623 shares during the period. Mayflower Financial Advisors LLC increased its position in Altria Group by 1.9% during the second quarter. Mayflower Financial Advisors LLC now owns 67,012 shares of the company’s stock valued at $3,052,000 after acquiring an additional 1,218 shares during the last quarter. Finally, Range Financial Group LLC lifted its holdings in Altria Group by 5.6% in the second quarter. Range Financial Group LLC now owns 37,103 shares of the company’s stock valued at $1,690,000 after acquiring an additional 1,955 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Stock Performance

Shares of MO stock opened at $54.27 on Friday. The stock has a fifty day simple moving average of $49.99 and a two-hundred day simple moving average of $45.88. The firm has a market capitalization of $93.22 billion, a PE ratio of 11.35, a PEG ratio of 3.13 and a beta of 0.66. Altria Group, Inc. has a 52-week low of $39.06 and a 52-week high of $54.95.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. On average, sell-side analysts forecast that Altria Group, Inc. will post 5.1 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $4.08 annualized dividend and a dividend yield of 7.52%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is presently 85.36%.

Analyst Upgrades and Downgrades

MO has been the subject of a number of recent research reports. Barclays boosted their price target on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Stifel Nicolaus boosted their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America raised their target price on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.58.

Altria Group Profile

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.